Wynn to invest $100mm in Boston

The company will buy properties surrounding Wynn Everett in order to host the mega-development.

US.- Steve Wynn, CEO of Wynn Resorts, confirmed on Wednesday that the company will spend approximately US$100 million to buy properties surrounding its resort casino in Everett. The move is part of a measure to improve the neighborhood that will host the development.

“We’ve spent over $75 million as of today … on our way to $90 (million), to buy real estate that has nothing to do with the casino development. It’s property that we’re buying so that we can turn Everett into a great example of America, of how a business can change a neighborhood,” said Wynn whilst speaking at a Greater Boston Chamber of Commerce event.

The properties that Wynn is targeting are close to the entrance of the casino and include both residential and commercial facilities. Robert DeSalvio, President of Wynn Boston Harbor, said: “Like any prudent developer, we have a responsibility to invest in our host community and play an active role in what will be built around us. We’re studying different options for the sites and will work closely with the city of Everett to bring even more vitality to lower Broadway.”

The exclusive touristic and entertainment experience in the State will be opened by mid-2019. The Everett resort and casino is highly expected for visitors and representatives of the international gaming industry. Wynn is investing US$2.4 billion in the Massachusetts venue.